Canadian Natural Resources (TSE:CNQ) Shares Cross Above 200 Day Moving Average on Insider Selling

Canadian Natural Resources Limited (TSE:CNQ - Get Free Report) NYSE: CNQ shares crossed above its 200-day moving average during trading on Wednesday following insider buying activity. The stock has a 200-day moving average of C$42.85 and traded as high as C$43.31. Canadian Natural Resources shares last traded at C$43.04, with a volume of 13,130,414 shares.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Scotiabank upgraded Canadian Natural Resources from a "sector perform" rating to an "outperform" rating and set a C$56.00 price target for the company in a research note on Wednesday, March 19th. Raymond James Financial upgraded Canadian Natural Resources from a "market perform" rating to an "outperform" rating and decreased their price target for the stock from C$52.00 to C$49.00 in a research note on Wednesday, April 9th. Wells Fargo & Company boosted their price objective on Canadian Natural Resources from C$42.00 to C$46.00 and gave the stock an "equal weight" rating in a research report on Thursday. National Bankshares cut their price objective on Canadian Natural Resources from C$51.00 to C$49.00 and set a "sector perform" rating for the company in a research report on Friday, March 7th. Finally, CIBC boosted their price target on Canadian Natural Resources from C$59.00 to C$62.00 in a research note on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of C$54.58.

Canadian Natural Resources Price Performance

The stock has a market capitalization of C$90.47 billion, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a debt-to-equity ratio of 25.79, a quick ratio of 0.54 and a current ratio of 0.84. The stock has a 50-day simple moving average of C$42.66 and a 200 day simple moving average of C$42.82.

Canadian Natural Resources Company Profile

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company's portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.